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The Dudley Building Society has launched a range of 2-year flat rate products and is bringing back the do-it-yourself product line as it offers mortgage offerings once it returns to the market.
The mutual company’s new two-year fixed-rate range includes a residential offering cut 30 basis points to 5.59%.
It has also introduced two-year fixed-rate deals for its specialized mortgage offerings, which previously included discounts only on term products.
The lender put mortgages on hold between August and December last year because it couldn’t handle the “high volume of mortgage applications” at the time.
The business now adds that two-year flat-rate products are now available to foreigners at an interest rate of 5.89%, as well as a standard buy-to-let and vacation rental range of 5.79%.
It also introduced a two-year fixed interest rate of 5.49%.
The firm’s new discount on urgent DIY items offers additional and prepaid options for standard and eco-friendly DIY builds.
Its DIY range also offers a maximum credit value of 85% for final and land value.
Its debt collection products offer discounts of 5.99% for standard DIY builds and 5.69% for eco-friendly DIY builds.
Mutual prepaid products offer rates of 6.14% for standard self-assembly and 5.84% for eco-friendly self-assembly.
Dudley Building Society Director of Sales Robert Oliver says: “We introduced our new range of flat rate products after noticing demand for flat rate products has increased significantly in recent weeks.
“The market is changing as job seekers seek more stability and we are focused on being proactive in our approach to meeting the needs of these job seekers.”
Oliver adds: “We started accepting new mortgage applications again last December, and since then we have been slowly restoring our specialty product offerings.
“The introduction of our DIY product line is part of this re-introduction and we are excited to continue our flexible approach to the various stages of DIY projects.”
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